Rents on the decline in Canada but price drops minimal in Oshawa

Rents in Canada have decreased by 3.2% from the end of 2023, reaching a 17-month low of $2,109 in December. This marks the first annual decline since 2020. Oshawa saw minimal changes, with 1-bedroom rents down 0.3% year-over-year to $1,826 and 2-bedroom rents up 0.6% to $2,172. Vancouver remains the most expensive city for rentals, while Ontario experienced the largest overall rent drops. Nationally, house and townhouse rents fell by 7.4% in 2024.